Netflix Rises; Nothing Changes With Disney+ Launch, Says Content Chief By Investing.com

Netflix Rises; Nothing Changes With Disney+ Launch, Says Content Chief

Stock Markets Nov 15, 2019 11:29AM ET

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Netflix Rises; Nothing Changes With Disney+ Launch, Says Content Chief

Investing.com - Netflix (NASDAQ:NFLX) isn’t deterred by the rise of other streaming services, like Disney+. In fact, the company is surprised it didn’t happen sooner, Chief Content Officer Ted Sarandos said at an event in New York Thursday evening.

“We figured at some point everybody would get into this,” Sarandos said, according to The Wall Street Journal. “I was frankly surprised it took Disney and other people this long to go on this path.”

Disney’s streaming service went live earlier this week, and has already gained millions of subscribers.

With streaming content now the norm, Netflix is moving more into producing its own shows and content instead of just offering programming, Sarandos said.

Shares of Netflix (NASDAQ:NFLX) were up 1.5% in midday trade on Friday.

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Comments (1)

Memoryn Nyambe Nov 15, 2019 11:48AM ET

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Competition is always healthy.. It makes organizations think outside the box to bring more great ideas to consumers.

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